New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-03
WHAT WAS SAID IN WALL sTREET.l

THE BULLS HAPPf.
The announcement Of the loan OF the Baltimore Anu
Ohio that will negotiated by the DreTe-Barihg sSn-
dictate was made SO late that Wall street was he"ry
deserted. Comment upon the TRANSACTION neoo'y
was restricted. Through the day the "ueS. SUI %
rur,ors were circulated but they we're OF INC o"aa
which called forth official deniais on al nanos ."
day. The impression was deeprooted. however ri.
reorganization OF the relations OF the Bait-
more and Ohio to railroad neghbors and tneir nhan
cal friends been effected and that IL meant 'no
removal OF big cloud of depression on the STOCK specu
l.t,on This idea entertained even before the true
,xora announced The facts did not carry out all
the statements that had been built up ny the rnmor-
mongers but they proved to the satisfaction OF 'nose
brokcrs who learned that the essential idea OF
the Street had been correct
The bulls were ubilant over the Drexel pronuDc'a-
meno They hailed the beginning of the END OF the
drama played by the Baltimore and Ohio as dsturber
Of the peace railway circies This was the Derprcta
ton put upon by person who heard OF II ana VINO is
bulishly inclined: "The retirement OF Mr. Garrett IN
que course Of time is probably assured u VIII he
courteous TO let him down easily just as M Gowen was
treated when be forced to retire beaten before the
combination of the Observation-Disclosures iaNew-
York Central interests How that Will be done Is oouo|
less matter settled at some future time and there
Is no need of immediate action. The directors or the
Baltimore Ohio road have recently shown strong In
dicatons OF their weardess Of Mr. CARROTS methods OF
aolntsm and his action IL the directors were only
chosen by the stockholders to register his DEGREES MI
CARROTS unfortunate experience with MT suly ana
Mr. Ives in failing properly to dispose OF Ms property
opened the eyes the directors to their presidents lack
of tact to say the least and they ready to back up
VicePresdent Spencer in his start on new track-that
f dealing with the banking combination whose cooper
alton is essential the OF any deal requiring
money
1t ia true that the telegraph property remains the
subject of future negotiation But the only purchaser
must be Mr. Gould The syndicate show that they want
from he bus
Telegraph and have the Baltimore road railroad
Institution. So that the end, whether II be accom-
plished within few weeks or few months must be tho
transfer Of the telegraph to the Western Union But
the people whose influence will now be felt In the balt
more and Ohio affairs powerful enough 10 see that
fair and equitable trade is made Mr. Gould will not be
dealing with that he has at his mercy through
starvation The poor starved concern now has friends
at its call and while every allowance Will be made TOT
Mr. Gould's natural repugnance to encourage future
oppostous by buying up the Baltimore and Ohio tee-
graph do not believe that the transfer will be an I'M
conditional surrender by Relieved from Its
pressing needs OF the man agement OF the Balt
Ohio Railroad under the patronage OF the syn
dicae will able treat with the Western Union on
the fair square basis"
similar view is held by many observers with regard
to the Baltimore and Ohio sleeping car system. The
natural inhertor of this will be the Pullman Palace Car
Company, but square deal " is now likely in this
direction than would have been IL Mr. Garrett had been
driven single handed to the wall and Iorced 10 accept
any terms offered.
GOOD THING FOR THE TRUNK LINFs.
The change policy assured by the new loan will re-
move thorn of large size from the side OF the trunk
line association of r1ads The threatened Introduction
of new ue NewYork city has long Kept the other
Eastern systems in perturbed state. The superhuous
facilities which that would have afforded in freight and
passenger traffic would have simply resulted in cutting
of that would have reduced the profits to stock
holders and by the Gripping OF the old railroads pos
sbly brought about return of the general bust
ness depression that followed the West shore expert
ment. story of the demoralizng influence OF the
Baltimore and Ohio passenger and Immigrant rates
Is an old Even after Mr.. Garrett had signed the
was concerned tne condition of freight
tons kept ugly strain constantly ON the freight pool
the II tsrstate law the need of strict
pooling agreements removed but at tue same time
the need OF harmony in general policy respecting ftss
pendent New York would have caused scramble
Tor business that would have resulted rates.
sven ii they were made open aud above board In
there is rs now seems inevitable satisfactory agree
fair land necessarily snai share in the lrac coming
into and leaving New;Yerk city, the relations between
leve. ease aud comparative absence OF friction
and ar sss operator
surrender Of Mr. Garrett to his bankers whose hell he
MT Gowens surrender Reading Railroad that the
American railroad longer lie operated on
s Of he Ssp
states at Ss Are tn ns nnbc which It
was once thought to be- The duplication OF existing
mean temporary prosperity to the individuals who
travel at low fares or ship their goods cheAply during
railroad credits checks expenditures by the
lighting roads and ends in los and nx
rates: And the day Of opposition except where II is
after had been forced to the wall gave encourage
TO similar enterprises. Mr.. Governs failure 10
the rights or the interests existing rivals also lent
encouragement to similar ventures And now that the
activity element disturbing 10 It's neighbors, do
not believe tina, new CAPITAL w go readily G % s
expense of the general prosperity which makes higher
prope es are now their best
For years foreign stock and bondhoders allowed
roads to be just the pride or interests OF their
managers dictated. They even lent their money 10
further schemes that had only speculative basis This
IL changed The railroad manager Is held 10 "A strict
account for his stewardship and when railroad needs
up and not pull down established organizations and
credits"
WHAT THOMAS c. PLATT THOUGHT.
President Thomas c. Plat. Of the United States Ex.
press Company said when asked early about the runois
Of ta new Baltimore and Ohio deal: do not believe
that the Baltimore and Ohio Railroad will pass out Of
the hands Of the present people who control It, The
telegraph collateral interests may Sold
sted tremendously with the other trunk line systems
mat n s Interest sha%a advance AID To- % Ba
and Ohio without seeing that tue Adams Express
Company had the preference In securing the Baltimore
and Ohio Express. The relations between the Drexel
banking interest, the Pennsylvania Railroad and the
Adams Express have been close that the severance
OF Mr. CARROTS line from the railroad before
the loan of SioOO0,Oo0 arranged causes surprise
1t Is thought that the advantage given 10 tue United
States Company may explain the price paid by for tue
express property which express men have looked
upon high. But opinion as to this point can I've
given because of the secrecy with which te in terms
that the United States Company only showed superior
enerprise in capturing CARROTS express facilities and
bold thstthe transaction was negotiated without the
full knowledge OF the people who are now advancing
Slo.oOO,Oo0 TO the Baltimore and Ohio
40 PURCHASE. BUT FRIENDLY AGREEMENT.
PHILADELPHIA. Sept tspeeiab.-A prominent official
Of the Pennsylvania Railroad said this Afternoon: "Ihs
Pennsylvania kairsad Is not interested syudi
cate to huy the Baltimore and Ohio. Our read not
% far ~ know and ought 20 know. want the road
Some tilas made proposition the Baltimore